Net Worth Advisory Group Takes Position in Edison International (NYSE:EIX)

Net Worth Advisory Group purchased a new stake in Edison International (NYSE:EIX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,381 shares of the utilities provider's stock, valued at approximately $643,000.

Other hedge funds also recently made changes to their positions in the company. M&G Plc acquired a new position in Edison International in the first quarter valued at $85,436,000. Capital International Investors lifted its stake in shares of Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider's stock valued at $940,562,000 after purchasing an additional 795,950 shares during the period. Capital Research Global Investors boosted its position in shares of Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider's stock valued at $1,438,984,000 after purchasing an additional 345,189 shares in the last quarter. Pzena Investment Management LLC grew its stake in Edison International by 2.3% during the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider's stock worth $962,287,000 after purchasing an additional 305,459 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Edison International by 595.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider's stock worth $22,884,000 after purchasing an additional 272,876 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 32,505 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company's stock, valued at $1,575,159.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of the firm's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO J Andrew Murphy sold 32,505 shares of the business's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,575,159.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,099 shares of company stock worth $7,223,342. Insiders own 1.03% of the company's stock.

Edison International Stock Up 0.9 %

Shares of Edison International stock traded up $0.79 on Friday, hitting $85.43. The company had a trading volume of 1,641,262 shares, compared to its average volume of 1,996,166. Edison International has a 1 year low of $61.64 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The stock has a 50 day moving average of $85.31 and a 200-day moving average of $77.84. The stock has a market capitalization of $32.87 billion, a price-to-earnings ratio of 37.47, a P/E/G ratio of 1.95 and a beta of 0.91.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the firm posted $1.01 EPS. Edison International's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be paid a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.65%. Edison International's dividend payout ratio (DPR) is 136.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group increased their price target on Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a report on Wednesday, September 4th. Argus increased their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Royal Bank of Canada lifted their price target on shares of Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Barclays cut their price objective on shares of Edison International from $91.00 to $89.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 15th. Finally, Evercore ISI raised their target price on Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.55.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.